Remy Cointreau Posts Drop In Q3 Total Sales, Cognac Sales Rise

Remy Cointreau REMYY reported a drop in its sales in the third quarter. The company's sales for the quarter declined to 269.1 million euros ($311.73 million), versus EUR287.6 million. However, organic sales slipped 1% in the quarter, versus a 5.5% drop in the second quarter and a 5.7% decline in the first quarter. Cognac sales gained 0.4% y/y in the quarter, versus an 11.8% drop in the second quarter and a 15.3% drop in the first quarter.